*Processing Fees and Excise duty are only applied to year one. For loans longer than one year, your annual cost from year two onwards will be 13.5%.

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Total Cost Breakdown (Loan Fees):

• ‍‍Interest Minimum: 13.5%
• Interest Maximum: 13.5%
• Processing fee: 3%
• Insurance Fee: 0.5%
• Withdrawal Fee: None
• Late Fees: None
• Other Fees: 20% Excise Duty on Processing Fee
  

Disbursement Details:

• ‍Institution Type: Commercial Bank
• Application Method: Paperwork
• Disbursement Method: Bank account
  

Repayment Details:

• ‍Repayment Frequency: Monthly
• Early Repayment: Allowed
• Repayment Method: Auto-deduction
  

Eligibility Requirement:

• ‍Smartphone: Not Required
• CRB: Must be in good standing
• Income: No Minimum
• Employment: Required
• Network: Not required
• History: Active account for 3 Months

Documents:

• National ID
• KRA Pin
• Application Form filled and signed
• 3 Latest pay-slips,
• T&C Links

Example Representative Pricing

• Loan Amount: ksh100,000
• Annual Interest Rate: 13.5%
• Processing Fee: ksh3000
• Excise Duty: ksh600
• Credit insurance: ksh500
• Loan duration: 12 months
• Estimated Monthly repayment: ksh8,932
  
• Estimated Total repayment amount: ksh107,181

This product is provided by Family Bank Limited. Family Bank Limited is a Commercial Bank licensed under the Banking Act Cap 488 of the Laws of Kenya and regulated by the Central Bank of Kenya.

How to Apply

Pros:

• Affordable credit insurance (deducted from Loan amount)
• High Maximum loan limit of up-to 3 million
• No late repayment fees

Cons:

• Must have an active salary account for 3 months
• Formal Employment required
• Branch visit for application, paperwork required

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